Sonoco Products: Q2 Earnings Insights

Shares of Sonoco Products SON remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share were up 6.33% over the past year to $0.84, which missed the estimate of $0.86.

Revenue of $1,383,000,000 up by 11.08% from the same period last year, which beat the estimate of $1,300,000,000.

Guidance

Q3 EPS expected between $0.87 and $0.93.

The company also projects FY21 EPS of $3.50 to $3.60.

Technicals

Company's 52-week high was at $69.83

52-week low: $48.20

Price action over last quarter: Up 0.34%

Company Overview

Over its 100-year-plus history, Sonoco Products has steadily assembled a diverse portfolio of industrial and consumer packaging product offerings such as flexible and rigid plastics, reels and spools, pallets, and composite cans. The company serves a variety of consumer and industrial end markets throughout North America. Sonoco has raised its dividend each year for more than 30 years.